After Jan. 12, the big-box retailer will no longer sell the iPhone 5 at the $127 reduced price it introduce last month in time for the holiday shopping season. Most retailers and carriers have been selling the base model of the iPhone 5 for $199.

Besides the iPhone 5, Wal-Mart also put the iPhone 4S on sale, discounting it to $47.

All of the prices are based on signing a service contract with a carrier.

But as Wal-Mart wraps up its sale on the iPhone 5, it is also announcing that the popular smartphone will now be carried by Straight Talk, the no-contract network that is available only at Wal-Mart.

Straight Talk will offer the 16 GB version of the phone for $650. It will work with a monthly $45 plan that includes unlimited talk, text and data.

The 8 GB iPhone 4 will also be available for $450. Customers who purchase either of the phones in the store can finance it and pay an additional $25 per month for their device. For the iPhone 5, those payments would last 26 months.